Does anybody know what kind of severance package Broadcom gives to laid of employees? Can anybody who was recently let go share, please? I have read that October layoffs are coming, and I know I have a good chance of being among those affected. I'd like to be prepared, if that's the case.
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I got rank 3 this August, what all does this mean apart from 50% bonus cut. How often they do this ranking and how often people are fired. Is it mandatory for all managers to do rank 1 to 3 or they can escape as well. What about severance package if one gets fired on basis of rank 3.
No
Will the notified employee get bonus?
Two weeks per year of service, with a cap at 40 was what they gave during last layoff. Plus, they give you three months of Medical Insurance.
Completely agree, under performer word is being misused. Each year 10-15% team has to be rated 3.
Managers try to pacify each year hardly we have any impact, only under performer had to go.
Point to be noted, next year remaining team has to produce under performers.
Technically, with this pace whole team will be labeled as under performer after few years down the line.
Under performers is a relative term under Avago. Avago forces managers to assign level 3 to a percentage of their group.
A very unreliable rumour is that in wcc there will be a small number of layoffs only of underperormers (bottom 5% or less).
How about DCD, MSAP & WCC BU?
Any rumor?
What is the time frame in Oct?
Early Oct or Late Oct?
Will all rated 3 employee be let go?
Very good severance package. Best in industry. Anyway hardly any impacts except for under performers.
I can talk about India, they are giving fair severance package (salary for 1 month notice period and 1 month salary for every year of service).
2week pay/year * #year service + 2months base (CA)/ pay_of_notice_period_of_other_state
if you are on transition, you get addition 50% base for each month you are in that period
Which bu are you in? Why do you think you will be laid off? Were you rated a 3 last year?
I heard that the severance is 3 months pay